Watts Water Technologies, Inc. to Post Q4 2018 Earnings of $0.83 Per Share, Northcoast Research Forecasts (WTS)
Watts Water Technologies, Inc. (NYSE:WTS) – Investment analysts at Northcoast Research dropped their Q4 2018 earnings estimates for Watts Water Technologies in a report released on Monday. Northcoast Research analyst A. Cohen now expects that the technology company will post earnings per share of $0.83 for the quarter, down from their previous forecast of $0.86. Northcoast Research currently has a “Buy” rating and a $79.00 price objective on the stock.
Watts Water Technologies (NYSE:WTS) last released its quarterly earnings data on Wednesday, August 2nd. The technology company reported $0.83 EPS for the quarter, beating the Zacks’ consensus estimate of $0.79 by $0.04. The company had revenue of $378.50 million during the quarter, compared to the consensus estimate of $379.51 million. Watts Water Technologies had a net margin of 6.27% and a return on equity of 12.84%. Watts Water Technologies’s quarterly revenue was up 2.0% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.75 EPS.
WTS has been the topic of several other research reports. BidaskClub raised shares of Watts Water Technologies from a “strong sell” rating to a “sell” rating in a report on Tuesday, June 27th. Boenning Scattergood reaffirmed an “outperform” rating on shares of Watts Water Technologies in a report on Tuesday, September 5th. Oppenheimer Holdings, Inc. reaffirmed a “hold” rating on shares of Watts Water Technologies in a report on Wednesday, June 14th. Finally, Stifel Nicolaus assumed coverage on shares of Watts Water Technologies in a report on Monday. They issued a “buy” rating and a $72.00 price target on the stock. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and three have issued a buy rating to the company. The company currently has a consensus rating of “Hold” and an average target price of $72.33.
Shares of Watts Water Technologies (WTS) traded up 0.58% during mid-day trading on Wednesday, hitting $68.80. 20,596 shares of the stock were exchanged. The company has a 50-day moving average of $63.54 and a 200 day moving average of $62.76. The stock has a market cap of $2.35 billion, a PE ratio of 26.88 and a beta of 1.06. Watts Water Technologies has a one year low of $58.35 and a one year high of $71.05.
The company also recently disclosed a quarterly dividend, which was paid on Friday, September 15th. Investors of record on Friday, September 1st were paid a dividend of $0.19 per share. This represents a $0.76 annualized dividend and a dividend yield of 1.11%. The ex-dividend date of this dividend was Wednesday, August 30th. Watts Water Technologies’s payout ratio is 29.69%.
In related news, insider Elie Melhem sold 3,306 shares of the company’s stock in a transaction that occurred on Friday, August 25th. The shares were sold at an average price of $62.11, for a total transaction of $205,335.66. Following the transaction, the insider now owns 32,128 shares of the company’s stock, valued at $1,995,470.08. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 1.10% of the company’s stock.
Institutional investors and hedge funds have recently made changes to their positions in the stock. Riverhead Capital Management LLC lifted its stake in shares of Watts Water Technologies by 44.3% during the second quarter. Riverhead Capital Management LLC now owns 1,732 shares of the technology company’s stock valued at $109,000 after buying an additional 532 shares during the period. Acrospire Investment Management LLC lifted its stake in shares of Watts Water Technologies by 157.1% during the second quarter. Acrospire Investment Management LLC now owns 1,800 shares of the technology company’s stock valued at $114,000 after buying an additional 1,100 shares during the period. Public Employees Retirement System of Ohio lifted its stake in shares of Watts Water Technologies by 0.8% during the second quarter. Public Employees Retirement System of Ohio now owns 2,038 shares of the technology company’s stock valued at $129,000 after buying an additional 17 shares during the period. Bruderman Asset Management LLC purchased a new position in shares of Watts Water Technologies during the second quarter valued at approximately $130,000. Finally, Bank of Montreal Can lifted its stake in shares of Watts Water Technologies by 8.8% during the first quarter. Bank of Montreal Can now owns 2,223 shares of the technology company’s stock valued at $138,000 after buying an additional 180 shares during the period. 77.64% of the stock is currently owned by institutional investors and hedge funds.
About Watts Water Technologies
Watts Water Technologies, Inc is a supplier of products and solutions that manage and conserve the flow of fluids and energy into, through and out of buildings in the residential and commercial markets. The Company, through its subsidiary, Watts Regulator Co, is engaged in manufacturing products and systems focused on the control, conservation and quality of water, and safety of the people using it.
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